Major players in the machine tools market are Doosan Machine Tools Co. Ltd. , Makino, Georg Fischer, JTKET Corporation, Komatsu NTC Ltd. , OKUMA Corporation, Hyundai WIA, Chiron Group SE, Haas Automation Inc.
New York, July 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Machine Tools Global Market Report 2022" - https://www.reportlinker.com/p06290058/?utm_source=GNW
, Yamazaki Mazak Corporation, Amada Private Limited, MAG IAS GmbH, GROB-WERKE GmbH and Co. KG, Ace Micromatic Group, Spinner Machine Tools, Dalian Machine Tools Group Corporation, and Electronica Hitech Engineering Pvt. Ltd.
The global machine tools market is expected to grow from $80.51 billion in 2021 to $87.30 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The machine tools market is expected to grow to $105.96 billion in 2026 at a CAGR of 5%.
The machine tools market consists of sales of machine tools by entities (organizations, sole traders, and partnerships) that are used for cutting, boring, grinding, shearing, and also used for deformations.It also contains some types of tools that are used for cutting and shaping.
Machine tools are referred to as stationary power-driven equipment used to shape or create pieces made of metal or other materials. Machine tools include lathes, shapers and planers, drilling machines, milling machines, grinders, and power saws that produce parts by removing metal chips from a workpiece.
The main types of machine tools are milling machines, drilling machines, turning machines, grinding machines, electrical discharge machines, and others.The milling machines tools are referred to as multi-purpose machines that can mill and turn materials as well.
A milling machine is a circular tool that has several cutting edges symmetrically arranged all over it.This machine is used for flat and irregularly shaped surfaces.
These are used to drill, bore, and cut gears.The different automation types include CNC machine tools and conventional machine tools which are distributed by several sales channels including direct, and indirect.
It is employed in various industries such as automotive, aerospace and defense, construction equipment, power and energy, industrial, others.
Asia-Pacific was the largest region in the machine tools market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the machine tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The machine tools market research report is one of a series of new reports that provides machine tools market statistics, including machine tools industry global market size, regional shares, competitors with a machine tools market share, detailed machine tools market segments, market trends and opportunities, and any further data you may need to thrive in the machine tools industry. This machine tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing manufacturing industry is expected to propel the growth of the machine tools market going forward.Machine tools refer to power devices that are used to process workpieces and act as important equipment in the manufacturing process of mechanical parts.
These machines are used for forming, cutting, and joining tools.As a result growth in the manufacturing industry will increase the demand for machine tools.
For instance, in September 2021, according to India Brand Equity Foundation (IBEF), an India based government agency, 2021 India received $30 billion worth of foreign direct investments which increased to 15% when compared to previous years and also in the same year government approved the production-linked incentive (PLI) scheme worth 3.53 billion for the manufacturing auto industry and drone industry to boost India’s manufacturing capabilities. Therefore, the growing manufacturing industry is driving the growth of the machine tools market.
New product innovations have emerged as the new key trend gaining popularity in the machine tools market.Major companies operating in the machine tools market focused on new product innovations to sustain their position in the market.
For instance, in December 2019, DMG MORI, a German-based company that manufactures machine tools launched a new product called lasertec 125 3D hybrid based on hybrid additive manufacturing technology. Lasertec 125 3D hybrid is a 5-axis laser deposition welding (LDW) system designed for the maintenance, repair, and production of parts in a workpiece.
In April 2021, EMAG Group, a Germany-based provider of the latest technological advances to optimize a manufacturing solution for every customer’s requirement acquired Samputensili Machine Tools for an undisclosed amount.With this acquisition, EMAG is broadening its area of technologies by adding gear production processes such as shaving, tooth flank grinding, gear shaping, profile grinding, and generating grinding.
Samputensili Machine Tools is an Italy-based company that specializes in producing high-quality gear cutting tools.
The countries covered in the machine tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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